US cracker operators which have integrated downstream operations maintain normal ethylene output despite low prices thanks to robust downstream derivative margins. On the other hand, merchant crackers with no downstream processes might cut rates by 5%-10%, market sources told SSESSMENTS.COM.
Market participants noted that spot US HDPE blowmolding price tumbled to its lowest level since October 2011 on Friday. However, margins for polyethylene and ethylene glycol production remain positive, preventing cracker operators from cutting rates by more than 5% to 10%.
On Thursday, non-LST ethane prices were observed at 10.125 cents/gallon, while non-LST propane prices were at 32.50 cents/gallon. US spot ethylene prices for April edged up 0.75 cents to 8 cents/pound FD Choctaw and were relatively unchanged at 8 cents/pound FD Mont Belvieu. April spot polymer-grade propylene (PGP) prices were steady at 23.25 cents/pound FD USG.
Export LDPE prices settled $11 lower than the previous day at $915-$937/ton. Export HDPE blowmolding prices decreased $33 to $618-$640/ton over the same period. Export LLDPE butene prices dropped to $596-$618/ton, $55 lower than Wednesday. Meanwhile, Export PP homopolymer prices were steady at $1,058/ton. All prices are on FAS Houston terms.
In the aromatics market, US April benzene prices increased 3 cents to 106 cents DDP USG. April styrene monomer prices increased by $15/ton from Wednesday to $475/ton FOB USG. April US methanol prices gained 4.89 cents/gallon to 68.05 cents/gallon over the same period. Meanwhile, spot paraxylene prices were stable at $505/ton FOB USG.
Tags: Americas,English,Ethylene,News,PE,PET,PP,PVC,Styrenics,US
Published on April 13, 2020 1:21 PM (GMT+8)Last Updated on April 13, 2020 1:21 PM (GMT+8)
